Biotech Sector Performance in April: Gilead Sciences Rising

Some work-related travel kept me from posting this yesterday, but here's the April performance of the biotech sector:

IBB Chart
IBB data by YCharts

Not pretty, but then, you already know that. Rising off the mid-month low is something to be happy about, I guess.

Here's where we stand year to date:

IBB Chart
IBB data by YCharts

I've noted previously the correlation between the declines in Gilead Sciences (GILD) and the broader biotech sector. April broke that trend, which is an encouraging sign that investors are perhaps starting to differentiate between quality stocks and over-valued garbage. 

IBB Chart
IBB data by YCharts

The April performance of big-cap biotech stocks:

IBB Chart

 

Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

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